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US rally helps EGBs

BONDS
  • US Treasuries and Eurodollar upside momentum is also helping the pullback in Europe.
  • European Yields have seen receiving interest after yield tested multi year highs earlier.
  • Short are likely looking at locking profit, as some investors park cash into yields.
  • Eurdollar have rallied ~14 ticks in just over an hour..
  • Tnotes/Bund spreads has tightened , close to 10bps on the US move

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